Honeywell’s innovative carbon sequestration technology helps Blue Spruce advance domestic helium production for use in high-tech manufacturing and semiconductor applications

CHARLOTTE, N.C., March 11, 2025 – Honeywell (NASDAQ: HON) today announced that Blue Spruce Operating, LLC will use Honeywell’s commercially proven carbon capture and sequestration technologies to increase the domestic production of helium at its Dry Piney Helium & Carbon Sequestration Project in Sublette County, Wyoming.

The Dry Piney Project will bring much needed domestically produced helium to growing industries including space exploration, satellite launches, and 5G telecommunications driving semiconductor innovation. Blue Spruce will be able to reduce costs while increasing helium production by using multiple Honeywell carbon capture technologies – including Honeywell UOP’s CO₂ fractionation technology – to capture and liquify the CO₂ byproduct from helium and methane production.

Expected to be online in the second half of 2028, the Dry Piney Project is estimated to have the capacity to produce over 800 million cubic feet per year of bulk liquid helium. By operating two CO₂ trains that are specifically built to capture, move, and permanently sequester CO₂ emissions, the Dry Piney Project will store up to 4.5 million metric tons of CO₂ per year.

"The Blue Spruce Dry Piney Project is expected to provide more than 10% of the global supply of helium, making it the second largest helium source in North America and offsetting declining production from other sources including the Cliffside U.S. strategic reserve," said Scott Gutberlet, Co-Founder and Partner of Blue Spruce. "Honeywell’s carbon capture technology will play a key role in boosting reliable and long-term U.S. helium production, therefore decreasing our need for foreign sources."

“As the world seeks more energy options, carbon capture provides a pathway for nations to maintain energy independence while reducing their carbon footprints,” said Barry Glickman, vice president and general manager of Honeywell Sustainable Technology Solutions. “Honeywell’s carbon capture technology will help Blue Spruce increase U.S. helium production to address the needs of domestic high-tech manufacturing and semiconductor applications.”

Helium is an essential component in the manufacturing of semiconductors, used in transistors, memory chips, and other electronic components. As the demand for electronic devices continues to surge, the need for affordable helium becomes increasingly important. Reduced costs through carbon capture technology will enable manufacturers to produce high-quality semiconductors more economically, thus supporting the growth of technology sectors and ensuring that devices can be offered at competitive prices.

The need for cost-effective helium is equally important in the healthcare technology sector for maintaining the operational efficiency of new, essential medical devices. Lower helium prices can lead to more accessible healthcare diagnostic tools, benefiting patients and healthcare providers alike. With industries and researchers continuously exploring new applications for helium, ensuring a stable and affordable helium supply is key to fostering innovation and supporting technological development across numerous fields.

Across sectors, 15 million tons per year of CO₂ are being captured and used in storage/utilization applications today through Honeywell's CO₂ Solutions process expertise.¹

About Honeywell

Honeywell is an integrated operating company serving a broad range of industries and geographies around the world. Our business is aligned with three powerful megatrends – automation, the future of aviation and energy transition – underpinned by our Honeywell Accelerator operating system and Honeywell Forge IoT platform. As a trusted partner, we help organizations solve the world's toughest, most complex challenges, providing actionable solutions and innovations through our Aerospace Technologies, Industrial Automation, Building Automation and Energy and Sustainability Solutions business segments that help make the world smarter, safer, more secure and sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.

¹Includes capacity of deployed UOP technology in installed projects enabling CO₂ capture from gas streams, of which 15 Mt of captured CO₂ is being utilized for enhanced oil recovery annually (Source IHSM).